Many of Britain's small army of middle-class private investors are likely to be partial to a spot of hummus - and now they have the chance to add some dip to their investment portfolio.

The UK's biggest maker of hummus has made a U-turn and decided to go ahead with a stock market flotation despite having ditched such plans exactly a week ago.

Bakkavor, which also supplies big supermarkets like Tesco and Sainsbury's with ready meals, desserts and salads, said last Friday it was not going ahead with the flotation due to 'market volatility'. But today it said it will embark on an initial public offering on November 16.

Bakkavor, the UK's biggest maker of hummus, is set to float on the LSE next week Thursday

The company has lowered the offer price from a proposed 195p per share to 180p share, which values the company at just over £1billion.

Bakkavor is looking sell around 25 per cent of the shares, or about 144million shares, to raise around £100million, which it will use to further invest in the business and reduce its current leverage.

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The other 75 per cent of the company will remain in the hands of the firm's Icelandic founders Agust and Lydur Gudmundsson and US hedge fund Baupost.

Bakkavor, which also supplies Marks & Spencer and Waitrose, claims to account for 30 per cent of the UK market for freshly prepared meals, pizza and desserts.

Simon Burke, chairman of Bakkavor, said: 'The board and I are delighted to welcome our new shareholders.

'It is particularly pleasing that our initial register has such a strong presence of well-respected long-term investors, reflecting an appreciation of the quality of the business and its long-term prospects.'

Gudmundsson added that the IPO represents a 'significant milestone' for Bakkavor.

The news comes as energy giant ContourGlobal is also pushing ahead with plans for a stock market listing valuing the company at almost £2billion.

The plans have been given the green light despite market volatility that has spooked other firms which last week shelved similar fundraisings.

Mobile infrastructure firm Arqiva - he UK's largest owner of mobile, TV and radio towers - postponed plans for a £6billion float last week.